President Donald Trump has implemented extensive tariffs on items such as trucks, pharmaceuticals, and even kitchen sinks in an effort to bolster America’s manufacturing sectors.
In several Truth Social posts on Thursday night, Trump declared tariffs ranging between 25 percent and 100 percent. He cited ‘unfair practices’ by foreign countries negatively impacting local industries as the reason behind his decision.
The initial announcement focused on shielding ‘our Great Heavy Truck Manufacturers from unjust foreign competition,’ instituting a 25 percent tariff ‘on all ‘Heavy (Big!) Trucks’ produced outside the United States.’
Shortly afterward, he unveiled a 50 percent tariff on ‘all Kitchen Cabinets, Bathroom Vanities, and associated products.’
That was accompanied by ‘a 30% Tariff on Upholstered Furniture.
‘This decision comes due to the extensive ‘FLOODING’ of these products into the U.S. from other countries. It is a very unfair practice,’ Trump explained.
Finally, he unveiled a mammoth ‘100% Tariff on any branded or patented Pharmaceutical Product.’
The final announcement was met with a caveat that businesses ‘BUILDING their Pharmaceutical Manufacturing Plant in America’ would be excluded.
President Donald Trump has announced plans to impose a new 25 percent tariff on all ‘heavy trucks’ that aren’t made in America
He described the tariff as one leveled against ‘all ‘Heavy (Big!) Trucks’ made in other parts of the World
In order to qualify for the exclusion, a business must be ”’breaking ground” and/or ”under construction”’ on their American operations.
The new tariffs will all come into effect beginning on October 1st.
According to Trump, the trucking tariff aims to safeguard ‘our Great Large Truck Company Manufacturers, such as Peterbilt, Kenworth, Freightliner, Mack Trucks, and others’ from ‘the barrage of external disruptions.’
Trump said it was crucial for ‘our Truckers to be financially healthy and strong, for many reasons, but above all else, for National Security purposes!’
So far, neither the White House nor the Commerce Department, which led the trade investigations into these products, has released further details on the proposals or their implementation.
Trump’s tariff announcements come just months after he implemented a deal to slash tariffs on Japanese imports to 15 percent, including vehicles and auto parts.
The deal, which infuriated U.S. automakers, will allow Japanese-built cars to face lower tariffs than the parts U.S. automakers import to build their own.
The deal is a major retreat from months of threats to impose a punishing 25 percent levy on automakers like Toyota, Honda, Subaru, Mazda, and Nissan, the Daily Mail previously reported.
Japanese carmakers like Toyota will face a lower tariff rate than American firms because of Trump’s latest deal
That change has sparked widespread outrage among major U.S. car companies. Representatives for the Detroit Big Three – General Motors, Ford, and Chrysler – said the lower tariff rate gives their foreign rivals an unfair edge.
Matt Blunt, head of the American Automotive Policy Council, which represents the three automakers, called the agreement a ‘bad deal for U.S. industry and U.S. auto workers,’ in a statement to DailyMail.com.
Eric Degenfelder, CEO / President of U.S Metal Powders, Inc.
He added that automakers are still analyzing the impacts, but criticized ‘lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American built vehicles.’
In addition to the tax on Japanese imports, the White House imposed new steel and aluminum tariffs up to 50 percent on foreign nations in June.
A top aluminum manufacturing CEO has since admitted that Trump’s plan could actually hurt American companies while foreign competitors gain an unfair advantage.
The CEO of U.S Metal Powders, an aluminum powder processing factory based in rural Carbon County, Pennsylvania, told the Daily Mail that Trump’s plan may have backfired.
CEO Eric Degenfelder said that Trump’s new 50 percent tariffs are leaving U.S. domestic manufacturers at a severe disadvantage.
The tariffs started driving up aluminum prices in the U.S. from about $1.25 to $1.80 ‘in a matter of a few months,’ he said.
Degenfelder said Trump’s tariffs are boosting foreign competitors because customers are ‘buying cheap aluminum in another region and then making aluminum powder and importing it to the U.S.’
